Apollo Liquidates Auction Securities

By

Donna Kardos

Updated Feb. 21, 2008 8:27 a.m. ET

Apollo Group Inc. released a statement assuring investors that all but $107 million of its auction-rate securities investments had been liquidated as the student-loan provider tries to reduce its exposure to them.&nbsp;&nbsp;&nbsp;

The student-loan provider -- which owned as much as $365 million in auction-rate securities in the current quarter -- also announced it will add a fifth lender in the near future to its...